| Indicator | 4H | 1D | 1W |
| MACD (12; 26; 9) | Buy | Sell | Sell |
| RSI (14) | Neutral | Neutral | Neutral |
| Stochastic (5; 3) | Neutral | Neutral | Neutral |
| Alligator (13; 8; 5) | Buy | Sell | Sell |
| SAR (0.02; 0.2) | Buy | Sell | Sell |
| Aggregate | ⇗ | ⇘ | ⇘ |
XAG/USD has been trading sideways in a diminishing range since early February. This has resulted in the formation of a wedge-like pattern.
The latest test of its bottom boundary occurred early in April when then the metal reversed from the 16.25 mark. It should be noted that the 2018 low is located at 16.10. The pair has since edged higher and breached the prevailing short-term channel down. This level coincides with a massive support cluster formed by the 55-, 100– and 200-hour SMAs and the weekly and monthly PPs.
The pair surpassing such a strong barrier does suggest that the rate could continue appreciating during the following trading hours. A possible upside target is the upper wedge line circa 16.70. In case this level is breached, the pair should target the 50.00% Fibonacci retracement at 16.95.
Meanwhile, a breakout of the aforementioned support is likely to result in a fall down to the 2018 low.